List the key parts of this graph and explain what each means in a real world context
1 answer:
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Answer:
1. a. Weak
2. r^2=0.0169
The variation in the price of the wine explained by the variation in the weight of the bottle is 1.69%.
Step-by-step explanation:
The correlation between the weight of the wine bottles and the price of the wine is r=0.13.
The values for r goes from r=-1, where a perfect negative correlation to r=1 for a perfect positive correlation. The value r=0 indicates no correlation at all.
Then, a value of r close to 0 indicates very weak correlation between the two variables.
The value for r^2 in this case is:
The value of r2 can be interpreted as the proportion of the variation in the dependant variable explained by the independent vairable. In this case, the variation in the price of the wine explained by the variation in the weight of the bottle is 1.69%, which is very close to 0.